EFPA Think Tank 2018

2018/09/25

EFPA Europe Think Tank 2018 took place on September 25th in Prague

The think tank organized in Prague gathered 2 EFPA certificate holders from +12 EFPA affiliate countries plus EFPA guests, to discuss and share, in an international environment, best professional experiences in relation with customers among EFPA certificate holders coming from all over Europe. The schedule of the event included a presentation on the subject by each national delegation, plus an open debate. 
EFPA organised a successful event in Prague on key issues for financial advisors with practitioners of 15 countries.
 
The debate was introduced by EFPA Chairman, Prof. Emanuele Carluccio, and EFPA deputy Chairwoman, Mrs. Marta Gellová; and moderated by professors Martin Sirucekand Maria Debora Braga. The participants shared their views on:
·     How to build a questionnaire and how to present it to the client in order to get the most clear representation and understanding of the customer needs and customer risk tolerance.
·     How to choose the best portfolio (from all the best portfolios/products available) to fulfil the customer needs?
·     How to monitor in the long run the investment solution proposed to the customer?
 
Among many relevant ideas raised and agreed during the event, the participants noted the key role of financial advisors to improve the client financial literacy and thus its behaviour. Financial Planning was agreed to be a key tool to solve the bias in the costumer behaviour.
The participants also recognised the importance of the tools of digital advise to help reducing the potential advice gap but also its inability to replace the value added provided by a human personal advisor.
Most of the countries' representatives understood that the industry deserves a "back to basics" approach, with more transparent products but keeping a high level of innovation and personalization.